What is Cooperative ?
A cooperative is a duly registered association of PERSONS, with a common bond of interest who have voluntarily joined together to achieve a lawful common social or economic end, and making equitable contributions to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles
WHO CAN BE MEMBERS OF A COOPERATIVE?
A cooperative has two kinds of members: regular members and associate members. A regular member is one who has complied with all the membership requirements and entitled to all the rights and privileges of membership as stated in the Cooperative Code and the cooperative by laws. An associate member has no right to vote and be voted upon and is entitled only to such rights and privileges provided by the cooperative's by laws.
Co-Operative Values And Principles
.Co-operatives are based on the values of self-help, mutual help, self-responsibility, democracy, equality, equity and solidarity. Co-operative members believe in the ethical values of honesty, openness, social responsibility, and caring for others. The following principles are the guidelines under which co-operatives put their values into practice are:
- Voluntary and Open Membership
- Democratic Member Control
- Member Economic Participation
- Autonomy and Independence
- Education, Training and Information
- Co-operation among Co-operatives
- Concern for Community